So, Gold has been developing in line with our forecasts for the past week. Let me remind you of the last price movement. First, the price began to fall towards the support line.
It touched her and pushed off for new growth.
Continued to grow, as I said yesterday.
I have analyzed the chart once again and modified it taking into account the price movement to make the forecast even more accurate. We see that at the end of November the price fell, bounced off the support line at 1768.00 and began to grow. During the growth, it formed local support and resistance lines - a small upward channel.
The price continues to move in this channel and is now near its lower border - the support line. Therefore, I expect the price to touch this line around 1878.13 before continuing to rally. This will give it additional support, after which the price will continue to rise towards the resistance line. Thus, I expect the final target - the resistance line 1903.02.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
As gold increases over the period, it is being rejected at 1880 several times and no prospect for future increase? Why? What's your opinion about that rejection?
Lingrid
⋅
@GoldProfessionaltrader, My opinion, that the price will go up the resistance line 1903.02.
Gold_Professional_Sniper
⋅
I am expecting Gold to rise next week after approval of the US Stimulus Package. Do you expect a down-fall this week to 1820? Happy Christmas
adasdad
⋅
@GoldProfessionaltrader, it's still bullish my friend.
I have two targets, these are two signals.
TP1 - 1894.64.
TP 2 -1930.44